HSBC accused of ‘blatant’ forex fraud by former client July 29, 2021 HSBC currency traders in London have been accused of routinely fronting run client orders for extra profits as part of a “blatant and indefensible” fraud by investment manager ECU lawyers. The closing statement comments by lawyers for ECU, which is suing HSBC for currency trades made over 15 years ago, marked the end of a [...]
Corruption in the City: Pinning down companies’ criminal accountability July 28, 2021 This summer marked 10 years since the UK Bribery Act 2010 came into force. Amongst many new powers granted under the law, a particularly significant one was that of the ‘failure to prevent’ corruption or bribery, under which businesses could be held liable and responsible for the actions of their subordinate, unless they had sufficiently [...]
Tough hill to swallow: New £2m Marble Arch Mound widely panned July 28, 2021 Refunds are being offered to visitors of the new £2m Marble Arch Mound tourist attraction in central London, after a slew of poor reviews and online criticism. The new attraction, which is supposed to give panorama views of central London, has been widely panned on social media and has been compared by some to a [...]
CitySprint look to expand as employment drive for 600 new couriers begins July 28, 2021 CitySprint, the UK’s largest same day distribution company, has announced that it is looking for an extra 600 new couriers across the UK. The recruitment drive is in response to a significant uplift in logistics requirements, particularly around the London area. High demand for products bought online is thought to be one of the reasons [...]
City Corporation urges firms to support its socio-economic diversity task force July 28, 2021 The City of London Corporation is calling on financial and professional services firms to encourage their networks and employees to support its socio-economic diversity task force. At a virtual meeting, City Corporation policy chair Catherine McGuinness asked individuals and organisations to get involved by being informed and using their influence to raise awareness of the [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 28, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Environmental Agency chair joins Green Finance Institute board The Green Finance Institute (GFI) has posted the chair of the UK’s Environmental Agency as its new interim chair, following the death of its founding chairman Sir Roger [...]
Metro Bank pulls in solid revenue as asset growth looks sluggish July 28, 2021 Metro Bank has pulled £179.8m in revenue in the past six months, as the British bank looks to return to a more profitable growth in the second half of the year. Revenue was up some £26.5m in the six months to 30 June, which the bank put down to the recovery of much of the [...]
London: Cover-up culture led to hundreds of Lambeth children being abused for decades July 28, 2021 Council staff “put vulnerable children in the path” of sex offenders, who infiltrated children’s homes and foster care, with “devastating, life-long consequences for their victims”, a damning report into decades of abuse has found. Employees in the south London borough of Lambeth “treated children in care as if they were worthless” and appeared to demonstrate [...]
Converted: London Jehovah’s Witnesses HQ to start new life as film studio July 27, 2021 The former headquarters of the UK Jehovah’s Witnesses in north London will be given a fresh start as a film and TV hub in a bid to tap into surging demand for studio space. Flexible workspace firm Purpose has snapped up the 200,000 square feet site in Mill Hill and plans to transform it into [...]
Three’s a party: Isle of Wight triplets all receive first-class degree in geography July 27, 2021 Three English brothers all received their first-class degrees in geography at the University of Portsmouth today. 21-year-old triplets – Charlie, Harry and Thomas White, from Wootton Bridge, Isle of Wight – all chose to study the same subject at the same university without discussing it with each other. “One of our school teachers was a [...]